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Submission + - Class action lawsuit against Wells Fargo for fraudulent auto insurance (cnbc.com)

UnknowingFool writes: A new class action lawsuit from a former Wells Fargo customer claimed the bank charged loan customers for auto insurance they did not need. With auto loans, the bank often requires that full coverage auto insurance be bought when the loan is made. However, lead plaintiff Paul Hancock says that Wells Fargo charged him for auto insurance even though he informed them he already had an insurance policy with another company. Wells Fargo also charged him a late fee when he disputed the charge.

Wells Fargo does not dispute that it did this to customers and has offered to refund $80 million to 570,000 customers who were charged for insurance. The lawsuit however is to recoup late fees, delinquency charges, and other fees that the refund would not cover.

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Class action lawsuit against Wells Fargo for fraudulent auto insurance

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